Lukoil sells third of its gas filling stations in Russia

LUKOIL, a Russian oil company, is considering selling about a third of its petrol stations network in Russia due to the unfavorable economic situation. “We are seriously considering the possibility of selling up to a third of gas stations by the end of the year,” — a source in the company told Interfax news agency.

“Net profit of the gas business in Russia for the first quarter is close to zero. The first quarter is often not very good, but this year it is very unsuccessful. Currently, a yield amounts to around 8 rubles per ton compared to 2 thousand rubles per ton a year earlier,” the source specified.

"We can compensate for this neither by an increase in gasoline prices, although the rise in 5 rubles per liter would help, nor by the development of non-fuel commodity groups at the gas stations,” he said.